Guideline Value for Durga nagar

Durga nagar guideline value

The current guideline value of Durga nagar, located in Udaiyavarkoil village under the Poonamallee SRO, is Rs 550 per sq.ft as per the 2024 revision effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Durga nagar has changed

The guideline value for Durga nagar has seen several revisions over the years. Starting from the 2003 revision, the value was Rs 48 per sq.ft. This increased to Rs 100 per sq.ft in 2007, followed by a significant jump to Rs 500 per sq.ft in 2012. However, in the 2017 revision, the value decreased to Rs 335 per sq.ft. The value then rose to Rs 500 per sq.ft in 2023, and currently stands at Rs 550 per sq.ft from the 2024 revision.

Between the revisions, there have been notable changes. From 2003 to 2007, the guideline value increased by 108%. The value then surged by 400% from 2007 to 2012. After a decrease of 33% from 2012 to 2017, the value rose by 49% from 2017 to 2023. The most recent increase from 2023 to 2024 is 10%. Overall, from 2003 to 2024, the guideline value has increased by 1046%. The register has no figure for the year 2002 for this street.

Guideline values in Udaiyavarkoil

In Udaiyavarkoil, there are 35 streets under the Poonamallee SRO that have a 2024 guideline value ranging from Rs 440 to Rs 3,400 per sq.ft, with the median being Rs 550 per sq.ft. The guideline value for Durga nagar matches this median.

• Eswaran koil street: Rs 550 per sq.ft (2024)
• Eswaran koil vadavandai mada veethi: Rs 825 per sq.ft (2024)
• Gangai kondan mandapa veethi: Rs 825 per sq.ft (2024)
• Guberan Garden: Rs 550 per sq.ft (2024)
• Homeland 124 Phase - 2: Rs 3,400 per sq.ft (2024)
• Homeland 124 Phase-I: Rs 3,350 per sq.ft (2024)

Stamp duty and registration fee for property in Durga nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total charges to Rs 49,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Durga nagar?

The Sub Registrar Office that covers Durga nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Udaiyavarkoil

The guideline value plays a crucial role in the registration process when buying or selling property in Udaiyavarkoil. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. This ensures that the property is valued accurately for legal and taxation purposes.

When a property is sold or purchased, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable charges, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Durga nagar?

The current guideline value of Durga nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 48 per sq.ft in 2003 to Rs 550 per sq.ft in 2024, reflecting a significant increase over the years.

What are the other streets in Udaiyavarkoil with their guideline values?

Other streets in Udaiyavarkoil include Eswaran koil street and Guberan Garden at Rs 550 per sq.ft, and Eswaran koil vadavandai mada veethi and Gangai kondan mandapa veethi at Rs 825 per sq.ft.

What are the stamp duty and registration fees for property in Durga nagar?

For a property valued at Rs 5,50,000, the stamp duty would be Rs 38,500 and the registration fee would be Rs 11,000, totaling Rs 49,500.

Which office handles property registrations for Durga nagar?

The Poonamallee Sub Registrar Office handles property registrations for Durga nagar, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.